Northern Trust Corp increased its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 1.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,401,500 shares of the real estate investment trust’s stock after acquiring an additional 23,724 shares during the period. Northern Trust Corp owned 1.56% of Boston Properties worth $295,432,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Nova Scotia increased its holdings in shares of Boston Properties by 917.9% during the 1st quarter. Bank of Nova Scotia now owns 35,127 shares of the real estate investment trust’s stock valued at $4,651,000 after acquiring an additional 31,676 shares during the last quarter. Vanguard Group Inc. grew its holdings in Boston Properties by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 22,201,045 shares of the real estate investment trust’s stock valued at $2,939,641,000 after buying an additional 398,674 shares during the last quarter. Credit Suisse AG grew its holdings in Boston Properties by 7.4% in the 1st quarter. Credit Suisse AG now owns 698,737 shares of the real estate investment trust’s stock valued at $92,519,000 after buying an additional 48,354 shares during the last quarter. Eii Capital Management Inc. grew its holdings in Boston Properties by 59.7% in the 2nd quarter. Eii Capital Management Inc. now owns 31,000 shares of the real estate investment trust’s stock valued at $3,814,000 after buying an additional 11,590 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Boston Properties by 2.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,146 shares of the real estate investment trust’s stock valued at $2,008,000 after buying an additional 400 shares during the last quarter. 94.58% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Boston Properties, Inc. (NYSE:BXP) traded up 0.07% during mid-day trading on Friday, hitting $122.92. The company’s stock had a trading volume of 50,729 shares. The company has a 50-day moving average of $121.20 and a 200 day moving average of $125.10. The company has a market cap of $18.97 billion, a price-to-earnings ratio of 41.67 and a beta of 0.64. Boston Properties, Inc. has a 1-year low of $113.69 and a 1-year high of $140.26.
Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 EPS for the quarter, beating the consensus estimate of $1.62 by $0.05. Boston Properties had a return on equity of 5.98% and a net margin of 18.18%. The company had revenue of $656.90 million for the quarter, compared to the consensus estimate of $645.96 million. During the same quarter in the prior year, the business earned $1.44 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts expect that Boston Properties, Inc. will post $2.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, September 28th. Boston Properties’s payout ratio is 102.04%.
A number of research firms have issued reports on BXP. KeyCorp reaffirmed a “hold” rating on shares of Boston Properties in a report on Friday, September 1st. Barclays PLC lowered their target price on Boston Properties from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, August 31st. Royal Bank Of Canada lowered Boston Properties from a “top pick” rating to an “outperform” rating and lowered their target price for the company from $150.00 to $140.00 in a report on Thursday, August 17th. TheStreet raised Boston Properties from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Finally, BidaskClub lowered Boston Properties from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $134.55.
About Boston Properties
Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.
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